As Economy Worsens, Predatory Loan Modification Companies Come out of Woodwork by the Groves

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To combat this growing trend, American 1st Support Services is offering homeowners a low-cost Loan Modification Kit, which can end up saving them thousands of dollars.

This is great news; however, homeowners need to be careful not to listen to every piece of advice out there. Homeowners shouldn't just call their lender right away to apply for a loan modification

Costa Mesa, CA (PRWEB)March 11, 2009

America 1st Support Services, http://www.79loanmodification.com, a group of successful mortgage and banking experts, has launched a low-cost Loan Modification Kit to help homeowners modify their current home mortgages directly with the bank, avoiding the high cost of using a modification company, often getting faster and better results. Amit Oberoi, President and CEO of America 1st Support Services, says dealing directly with your bank in negotiating a loan modification has great advantages but there are still pitfalls that homeowners need to be aware of.

"Before you contact your lender or bank, you need to be prepared and have your ducks in a row. One wrong statement or incomplete package can cost you valuable time or mean you won't get the most favorable terms, or even disqualify you from a life changing loan modification," says Oberoi.

H. Eugene Fouchia, Vice President at America 1st Support Services, says whether a homeowner deals directly with their bank or hires a reputable attorney or loan modification company, the one thing for certain is that the homeowner needs to learn all they can about the loan modification process and get prepared before they begin. One of the simplest and best ways to get fully educated and prepared for the modification is to get this kit and do it. It contains all the forms, tools and step by step procedures the attorney's and loan modification companies use and more. He adds, the program also includes revised lower financing options for a lot of other homeowners who have sacrificed to remain current on their mortgages.

Before you contact your lender or bank, you need to be prepared and have your ducks in a row. One wrong statement or incomplete package can cost you valuable time or mean you won't get the most favorable terms, or even disqualify you from a life changing loan modification

Contrary to some expert advice, do not jump up and contact your lender right away to see what loan modification terms you qualify for. You need to be prepared first with what loan modification you can afford and what loan modification terms are acceptable to you

"This is great news; however, homeowners need to be careful not to listen to every piece of advice out there. Homeowners shouldn't just call their lender right away to apply for a loan modification," says Oberoi. Another option many struggling homeowners choose, says Oberoi, is to hire an attorney or loan modification company to do the paperwork and deal with the bank for them. But, says Oberoi, there are some hefty fees associated with this service in the range of $2000-$4000.

What both Oberoi and Fouchia recommend is, before homeowners spend $2000, $3000 or $4000 for a high priced attorney or modification company, or worse, call the bank unprepared and risk getting disqualified for a one-shot, life changing loan modification, they should get an inexpensive Loan Modification Preparation Kit, available at America 1st Support Services, http://www.79loanmodification.com.

About America 1st Support Services
American 1st Support Services Inc. is a group of successful mortgage and banking experts with over 50 years combined experience in the mortgage and banking professions. After observing recent predatory modification practices, America 1st Support Services decided to fight back on behalf of struggling homeowners by giving them all the tools in one affordable kit so they can do a complete loan modification on their own, without having to spend thousands of dollars. For information, call 800-762-1867 or visit http://www.79loanmod.com